The contract is structured so that ownership vests with seller and he keeps papers.
An interesting point - ownership and possession are 2 different things.
You might possess but not own and vice versa.
So ownership stays with seller (like the bank would be), and only passes on final payment.
In the absence of a fee or charge, it escapes the definition of a credit agreement.
Of course larger transactions will possibly have charges .
The other issue is the requirement to register which deals with the threshholds.
So probably good idea to title the agreement as for sales under XYZ rand (XYZ being the threshold)
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